NS&I savings

jamels2 · 26 January 2020 at 4:43PM

Is it worth considering NS&I premium bonds (1.4%) or income bonds (1.15%) as an alternative to other instant access accounts?
I'd like to keep it on the same platform as my current account but nationwide only pays 0.3% for easy access savings.

Albermarle · 26 January 2020 at 4:47PM

With Premium bonds the effective interest rate is skewed by the two £1 miilion prizes each month .
More realistically you should look at them paying an average approx. 1.25% + an infinitesimally small chance of winning a Million .

18cc · 26 January 2020 at 5:22PM

Certainly worth considering - 1.15% is not the best rate for instant access (eg Marcus 1.35%) but is certainly not bad and better than most high st banks. Nationwide is for example 0.5%

be aware it takes a day or so for withdrawals to arrive at your bank account t ie not instant.

Jrose1927 · 26 January 2020 at 5:26PM

I've just opened Marcus 1.35% rate and can withdraw any time interest paid monthly or yearly whatever your preference easy access easy get out when something better pops up

DiggerUK · 26 January 2020 at 6:16PM

We use PB's for all our instant access savings. The reason being that interest rates are awful, we figure that a big win would be very nice as well.
Operate on line..._

NS&I savings

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